In regulatory news, South Africa became the first country to mandate a license for signal providers, imposing a penalty on a forex signal provider for non-compliance. The SEC dismissed a lawsuit against cryptocurrency exchange Kraken, signaling a shift in the US crypto market. Additionally, President Trump announced a US strategic cryptocurrency reserve, causing a surge in Bitcoin, Solana, and XRP prices. The article also highlights the launch of TipRanks' AI stock analyst, Spark, and the challenges faced by prop trading platform Hola Prime due to fake reviews on Trustpilot.
Key takeaways:
- Saxo Bank reported a record-breaking profit for 2024, with net profit soaring 287% to €135 million.
- Admirals Group AS faced a net loss of 1.6 million euros in 2024, with a significant decline in active clients.
- Proftit Ltd., a CRM solutions provider, decided to shut down operations to consider strategic changes.
- South Africa became the first country to mandate a license for signal providers, imposing penalties for non-compliance.